Relating to litigation on demand of service tax
Digjam announced that the Company had received a Show Cause Notice in March, 2015 seeking to deny the exemption for non-compliance of procedural requirement of the exemption notifications on payment of overseas selling commission on reverse charge basis demanding Service Tax of Rs. 115.16 lakh alongwith interest and penalty.The Company has now received on 13 January 2016 the Adjudication Order confirming the aforesaid demand of Service Tax with interest u/s 75 of the Finance Act together with penalty for like amount u/s 76 of the said Act and further penalty of Rs. 0.85 lakh u/s 77(2) thereof.
The Company is advised that the non-compliance is only procedural in nature and therefore, believes that it is not liable and accordingly proposes to file appeal against the aforesaid Order before the appropriate forum.
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